Source: Fras-le announcement
SÃO PAULO — The bell rang at a ceremony held yesterday at B3’s headquarters in São Paulo celebrating the primary offering of shares by Fras-le, an auto parts – including brake parts — replacement powerhouse that held its IPO in 1971.
The share offering seeks to raise funds that will be directed towards the continuity of the company’s expansion strategy and investments in innovation. The primary public distribution was 52,450,000 new shares.
Held at B3’s headquarters, in downtown São Paulo, the event was attended by B3’s Director of Customer Relations, Rogério Santana, by the president of Randon Companies, by Fras-le’s director, Daniel Randon, by the managing director of Fras-le, Anderson Pontalti, and the director of M&A and Investor Relations of Fras-le, Hemerson de Souza, in addition to company executives, employees and guests.
“This move represents the success of our operation’s strategy, aimed at raising funds for Fras-le’s continued growth,” emphasized the director of M&A and Investor Relations at Fras-le, Hemerson de Souza. “We will continue our market expansion, expand our international presence and explore new technologies, such as nanotechnology research (developed by the company NIONE). This moment reinforces the new level reached by the company in recent years and positions us as one of the most strategic players in the segment.”
The share offering was carried out in Brazil under the coordination of Banco Itaú BBA SA, Banco BTG Pactual SA, Banco Bradesco BBI SA and Banco Safra SA, pursuant to the Securities Market Law. Simultaneously, efforts were made to place shares abroad by Itau BBA USA Securities, BTG US Capital LLC, Bradesco Securities, and Safra Securities.